Flyte Tyme Seals Deal

MAHWAH, N.J. — The Executive Transportation Group (“ETG”) and Flyte Tyme Worldwide Transportation (“Flyte Tyme”) this week announced a partnership of the Flyte Tyme business, ETG’s Connecticut based operations and ETG’s national program Extra.

The Executive Transportation Group is the largest operator of black car services in the New York region with more than 1,800 independent owner operators 3,000 corporate accounts and 18 different brands. The combined entities along with Flyte Tyme Worldwide will produce more than $150 million in annual revenues and employ more 600 employees and 1,800 independent operators.

The addition of the Connecticut operations will add over 50 vehicles to the Flyte Tyme Worldwide Fleet. According to LCT’s 2009 100 Largest Fleets List, Flyte Tyme reported 217 vehicles. The new total would be 267.

The merger includes the following Flyte Tyme operations: Flyte Tyme Worldwide Transportation with offices in Mahwah and Princeton NJ and Philadelphia PA; Flyte Line Transportation with offices in New York City; Mahwah Taxi Local Taxi Service; and the following ETG companies: New England Limousine Stamford CT; Vip Limousine Stamford CT; and Extra USA (Formerly Burgundy Global) of Stamford Conn.

Tim Rose, president of Flyte Tyme Worldwide, said in a company statement: “The partnership creates enormous opportunities to expand its operations during this very challenging economic environment. The financial strength of ETG along with our long term relationship with the Acierno Family made this a natural progression. The black car expertise of ETG and fleet management expertise of Flyte Tyme Worldwide will compliment both ground transportation leaders, as well as providing additional opportunities to consolidate other areas of operations via our centralized call center, dispatch and billing services departments.”

The partnership will allow Flyte Tyme Worldwide and ETG an opportunity to expand the NY, NJ, PA and Connecticut markets and the worldwide affiliate networks of Flyte Tyme and Extra USA, Extra Asia and Extra Europe.

ETC CEO John Acierno said in the company statement: “We have been talking about this partnership for the past five years since becoming partners with Tim Rose and Allen Serafin in Flyte Line Transportation, Flyte Tyme’s black car division. Our two organizations work very well together and the synergies will work to further strengthen our operations.”

This partnership also coincides with the retirement of Allen Serafin, CEO of Flyte Tyme.

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